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If I received money from an IRA that was closed that belonged to a deceased relative how do I report that income?

I did not inherit the IRA, just a portion of the distribution when the account was closed.
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If I received money from an IRA that was closed that belonged to a deceased relative how do I report that income?

If you were simply distributed cash/check from the estate that is not reportable taxable income. The estate who recieved the distribution will report it on the estate return which may or may not be passed thru to the beneficiaries ... check with the trustee of the estate for more information.

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dmertz
Level 15

If I received money from an IRA that was closed that belonged to a deceased relative how do I report that income?

It's not clear why you received money that had been in this IRA of the deceased.

Were you a designated beneficiary of the IRA?
If not, did you receive this as a distribution from the deceased's estate?
If not, were you simply given this money by someone else who was either a beneficiary of the IRA or received it from the estate?

If I received money from an IRA that was closed that belonged to a deceased relative how do I report that income?

If you were simply distributed cash/check from the estate that is not reportable taxable income. The estate who recieved the distribution will report it on the estate return which may or may not be passed thru to the beneficiaries ... check with the trustee of the estate for more information.

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